Life sciences venture firm Foresite Capital said today that it raised a record $668 million for its fourth fund, bringing its assets-under-management tally to $2 billion. San Francisco-based Foresite was founded in 2011 by former Theravance co-founder & CEO Dr. Jim Tananbaum. Investors in its fourth fund include “a significant representation of existing investors, including […]
Orbimed founder Isaly resigns on harassment accusations
OrbiMed founder and managing partner Sam Isaly made it official last week when he relinquished control of the private equity fund in the wake of sexual harassment allegations lodged by several former employees. Six former employees accused Isaly, a 72-year-old investor long revered in the biotech community for his ability to pick stocks, of routinely demeaning and […]
Ex-Siemens Healthcare VC sues for retaliatory firing
A former venture capitalist with the healthcare operation at Siemens (NYSE:SI) sued the company last year, alleging that he was fired in retaliation for blowing the whistle on an alleged extortion attempt. Andrew Jay’s 14-year tenure in the German industrial conglomerate’s Boston venture shop ended in November 2017, when he declined to accept a demotion he […]
OrbiMed founder Isaly out after harassment allegations
OrbiMed founder and managing partner Sam Isaly yesterday stepped down in the wake of sexual harassment allegations lodged by several former employees of the healthcare hedge fund. In a statement released last night, New York City-based OrbiMed said Isaly is leaving “pursuant to years-long succession planning discussions” and did not address the accusations from six women, first […]
Report: Investors review hedge fund involvement in wake of harassment allegations against Orbimed founder Isaly
Institutional investors with positions in OrbiMed are reportedly reviewing their involvement with the healthcare hedge fund after sexual harassment allegations surfaced against founder and managing partner Sam Isaly. Six former employees of biotech hedge fund accused Isaly, a 72-year-old investor long revered in the biotech community for his ability to pick stocks, of routinely demeaning and harassing women with […]
TPG Capital adds $108m to Exactech price
Exactech (NSDQ:EXAC) said today that TPG Capital raised its go-private bid for the orthopedics company by some $108 million, or more than 17%. TPG in October offered $42 per share for the Gainesville, Fla.-based company, for a valuation of about $625 million. Today Exactech said TPG raised the bid 17.3% to $49.25 per share, which would put the […]
KKR puts another $35m into Signostics parent company EchoNous
Private equity giant KKR (NYSE:KKR) put another $235 million into EchoNous, the parent company of Signostics, for the second time in as many years. The cash is earmarked for commercializing the Uscan ultrasound device, developing a vein-location device and an unnamed artificial intelligence-driven ultrasound project to market, Seattle-based EchoNous said. KKR put $35 million into the company […]
Leerink fund raises $313m for HIT plays
A fund backed by investment bank Leerink Partners raised $313 million for investments in the health information technology sector. Boston-based Leerink Transformation Partners said its first fund was significantly oversubscribed compared with the $250 million it initially sought to raise. Co-founder Todd Cozzens is a medical device industry veteran and former Sequoia Capital partner; Dr. Jared […]
Lightstone Ventures raises $250m second fund
Lightstone Ventures this week said it raised $250 million for its second fund, $50 million more than it was aiming for. Menlo Park, Calif.- and Boston-based Lightstone said it plans to use the cash to back “companies developing therapies which have the potential to change the practice of medicine” and to found companies via its alliance […]
Orbimed closes $551m Asia-focused healthcare fund
OrbiMed said this week it closed its 3rd Asian-focused healthcare private equity fund, having raised approximately $551 million in capital commitments. The new fund, the Asia Partners III, is slated to invest “broadly across the Asian healthcare industry,” focusing on growth stage product and services-oriented companies in China and India, according to the investment firm. […]
Bain Capital raises $720m life sciences fund
Bain Capital said today that it raised $720 million for its 1st investment fund focused exclusively on the life sciences sector. “We are excited by some of the long-term secular trends in the life sciences space,” Bain Capital Life Sciences managing director Adam Koppel said. “Big pharma is increasingly outsourcing R&D at the same time as many new […]
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